Aptitude Day 310

Answers of Day 309: 1. 200.

      (Chain rule)          2. 8.

Compound Interest

Formulae:

• Amount = P(1 + R/100)ⁿ  when interest is compounded annually.

• Amount = P[1 + (R/2)/100]²ⁿ  when interest is compounded Half-yearly.  

• Amount = P[1 + (R/4)/100]⁴ⁿ  when interest is compounded Quarterly.

• Amount = P(1 + R/100)ⁿ * [1 + (x*R /y)/100]when interest is compounded annually but time is in fraction like n(x/y).

• Amount = P(1 + R₁/100)(1 + R₂/100)(1 + R₃/100) when rates are different for different years.